Strong increase in a short period of time: Since the Lockdown on 16. March 2020 a rise in mortgage interest rates almost on a daily basis. At the end of February the average interest rates for a five-year mortgage amounted to 0.95 per cent, and for ten years was 1.08 percent. 27. March you for five years already at 1.07 per cent, and for ten years at 1.3 percent.
This shows an evaluation of the average mortgage rates from over 100 banks, insurance companies and pension funds of the Internet-comparison service money Park. What this means for owners of residential property and want to be there? VIEW answers the most important questions.
Why a rise in mortgage interest rates now?
“One reason is the capital market interest rates, which have risen in the last few weeks,” explains Stefan Heitmann (43), CEO of money Park. The capital market interest rates serve as a Basis and reference for the refinancing of mortgages. The extreme fluctuations in the capital market interest rates of recent weeks were triggered by the panic on the stock markets. Heitmann further: “in Addition, individual mortgage provider in the current state of Crisis to rethink your strategy.”
most of all have partially or completely converted to a home office, what slows down the processes. “To prevent a capacity overload, we see some of the vendors temporary price increases.” Individual providers restrict their offering in uncertain times, to price stability in the market.
you Should now record a mortgage?
The conditions for borrowers are still good and should remain for the time being. “We expect that mortgage rates will level off at a slightly higher level”, says expert Heitmann.
Also, according to Ursina Kubli (40), head of real estate Research, Zürcher Kantonalbank (ZKB) is now announced don’t panic: “We assume that the interest rate situation normalizes again.” In the long term, it is possible that the consequences of the current crisis could lead to higher interest rates.
Therefore, Kublis tip: “If you conclude now with a mortgage, might be worth a longer-term financing.” And, According to Heitmann, a comparison of the provider just pays off in uncertain times. “The differences are currently very high.”
Is it more difficult for a mortgage?
no. The banks have not adjusted their criteria for mortgage lending. “These were already very strict,” said Kubli. Overall, the ZKB expects, however, a temporary decrease in transactions and, therefore, fewer New contracts. The reason: tours are under the present circumstances, it is almost not possible. The consequence of this is that sales are pushed to a few months.
the banks Are forgiven because of the emergency loans less mortgage loans?
“no, the emergency loans will have on the mortgage lending strategy of the banks for the time being, no impact,” says Heitmann. The ZKB does not explain the current Situation to change the lending policies of the Bank.
a real estate crisis before us?
“You might think that in this environment, prices would fall,” said Kubli. “We don’t expect in our own homes, however.” Any seller will postpone the sale. In addition, in Switzerland there are still many tenants who are already longer in search of a home. This will prevent, according to ZKB, also in the medium term, a price decline.
today’s homeowners are still able to pay their mortgage interest. “Finally, these are still at a very low level,” said Kubli.
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